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In a lot of ways -- yes.

I think Microsoft squeezed Nintendo out of the core market and convinced Nintendo that they couldn't compete head on in that area because they are much smaller company than MS.

And while being the alternative game company served them well for a few years, they've lost the casual audience to iOS/Android gaming now too ... which leaves them in a very difficult position now.

If MS didn't exist, IMO Nintendo would be a much more balanced company today, making more games for core gamers (rather than being at the mercy of more unreliable and fickle casuals) while still making the same ol' Mario/Zelda/Metroid games that everyone enjoys.